Rich oil and gas resources make it one of the richest countries in the world. However, although the human development index of Qatar is very high and the people are extremely rich, due to their underdeveloped industries, they cannot be considered as developed countries. In Qatar, oil and gas revenues account for more than 50% of total government revenue and 90% of total export revenue.

In terms of natural gas, Qatar is the third largest natural gas reserve in the world after Russia and Iran. Natural gas reserves are much higher than oil reserves, of which the proven reserves of liquefied natural gas (LNG) are 24.5 trillion cubic meters, or about 1617 equivalent oil equivalents. Billion barrels. The Persian Gulf region between Qatar and Iran has the largest natural offshore gas field in the world. Iran calls it the South Pars and Qatar calls it the North Dome. However, in recent years, as the United States, Australia and other countries have ranked among the LNG export countries, Qatar's LNG exports are facing a severe test. In April 2017, Qatar announced the re-exploitation of the northern gas field.

Rising demand of oil and gas industry means market steel demand keeps rising, this is a opportunity for steel industry to open market in Qatar. Pipes used for oil and gas transportation is wildely applied in oil and gas industry.

In 2018, demand for steel in the Middle East will increase by 4.8% year-on-year, which will make the region the second fastest growing region in global steel consumption. Due to the large space for the construction and reconstruction of the countries in the Gulf region and the impact of major events such as the 2020 World Expo in Dubai and the Qatar World Cup in 2022, the demand for steel products in the Middle East is expected to grow strongly in the coming years. The company’s spokesperson also pointed out that as more and more countries adopt trade remedy measures to protect the domestic steel industry, more and more steel-producing countries will target steel exports in the Middle East.